Abstract
A problem is posed of how to divide a set of K independent random variables into a smaller number of mutually exclusive groups so that the groups are homogeneous. Following some ideas of Wald, a loss function is postulated from economic considerations; a Bayes solution to the problem is derived and the resulting least squares criterion applied to a numerical example. Some limitations of the approach are discussed; relationships to other work are indicated.
Keywords
PoolingMathematical economicsEconometricsEconomicsComputer scienceOperations researchMathematicsArtificial intelligence
Related Publications
Some Applications of Radial Plots
Abstract A radial plot is a graphical display for comparing estimates that have differing precisions. It is a scatter plot of standardized estimates against reciprocals of stand...
Introduction to Variance Estimation.
The Method of Random Groups.- Variance Estimation Based on Balanced Half-Samples.- The Jackknife Method.- The Bootstrap Method.- Taylor Series Methods.- Generalized Variance Fun...
A Bayesian Information Criterion for Singular Models
Summary We consider approximate Bayesian model choice for model selection problems that involve models whose Fisher information matrices may fail to be invertible along other co...
Estimating the components of a mixture of normal distributions
The problem of estimating the components of a mixture of two normal distributions, multivariate or otherwise, with common but unknown covariance matrices is examined. The maximu...
A Least Squares Correction for Selectivity Bias
WHEN ESTIMATING REGRESSION MODELS it is very nearly always assumed that the sample is random. The recent literature has begun to deal with the problems which arise when estimati...
Publication Info
- Year
- 1953
- Type
- article
- Volume
- 21
- Issue
- 4
- Pages
- 567-567
- Citations
- 18
- Access
- Closed
External Links
Social Impact
Altmetric
PlumX Metrics
Social media, news, blog, policy document mentions
Citation Metrics
18
OpenAlex
Cite This
Walter D. Fisher
(1953).
On a Pooling Problem from the Statistical Decision Viewpoint.
Econometrica
, 21
(4)
, 567-567.
https://doi.org/10.2307/1907923
Identifiers
- DOI
- 10.2307/1907923